Raymond Realty Limited Announces Eighth Major Joint Development Project in Mumbai With Rs 8,500 Crore Maiden Parel Venture
New Delhi, July 16, 2026: Raymond Realty Limited announced the signing of a Joint Development Agreement (JDA) to construct a premier residential project in Parel, marking the company’s first foray into South Mumbai. Carrying an estimated Gross Development Value (GDV) of approximately Rs 8,500 crore, the newly signed venture stands as the largest project undertaken by the developer outside its flagship Thane land parcel to date. The strategic agreement represents Raymond Realty’s eighth joint development project within Mumbai city, pushing the firm’s total real estate portfolio GDV to close to Rs 52,000 crore, Raymond Realty said in a press release.
The premium residential development will be situated in a highly strategic location, offering unhindered sea views and optimal transit infrastructure. The area features rapid connectivity via the newly commissioned Atal Setu to the Navi Mumbai International Airport. Furthermore, commute times to major business hubs such as Worli, BKC, and Lower Parel will be optimized through the Sewri-Worli Elevated Connector, scheduled to open by late 2026, while an upcoming underground tunnel is set to ensure seamless travel to Marine Drive and Nariman Point by 2028. Future-proof urban transit will be enhanced even further by the upcoming Metro Line 11, which will span from Bandra to Colaba via Parel.
“Parel has always been at the heart of Mumbai’s evolution and we are proud to add another landmark to Raymond Realty’s growing portfolio through this strategic joint development. Our expansion continues to be guided by an asset-light, partnership-led approach that enables us to unlock value in some of Mumbai’s most sought-after locations. This project reflects our commitment to nation building and our confidence in Mumbai’s enduring growth story shaping the next generation of urban living,” said Gautam Hari Singhania, Chairman of the Raymond Group.
The company noted that the project will contribute meaningfully to its financial runway while solidifying its footprint as an agile and prominent player in the highly competitive Mumbai Metropolitan Region (MMR). By utilizing a partnership-led, asset-light framework, the firm plans to scale its execution capabilities efficiently while maintaining optimal capital allocation.
“Raymond Realty has firmly established itself as one of the fastest-growing real estate developers in the Mumbai Metropolitan Region, backed by the Raymond Group’s century-long legacy of trust, excellence, and quality. This landmark Joint Development Agreement in Parel marks a significant milestone in our expansion into South Mumbai and underscores our confidence in the long-term potential of Mumbai’s premium residential market. Our disciplined, asset-light model and agile capital structure enable us to unlock high-value opportunities while maintaining capital efficiency. With a focus on scalable growth and strong execution, we continue to create long-term value for our stakeholders and strengthen our presence across MMR,” said Harmohan Sahni, Managing Director & CEO of Raymond Realty Ltd.
